Consumer ABS

Santander Consumer USA plans to issue a securitization backed by prime/nonprime auto loan receivables from its Chrysler Capital Auto Receivables Trust, the issuer’s first deal to veer away from subprime.

Navistar is back in the market with a $200 million dealer floorplan ABS deal that has been assigned preliminary ratings by Moody’s Investors Service.

CarFinance is coming down the pike with a $304-million securitization of subprime auto loans. It's the company's third asset-backed ever.

Standard & Poor’s is considering criteria changes that would make it more difficult for a structured finance transactions to earn a rating above the "sovereign ceiling," or the rating of the nation in which it is domiciled. The proposed criteria would cut the maximum ratings differential to four notches from the current six, in most cases.

Until recently, the residual interest in student loan securitizations was a tough sell, but there have been at least two issues of bonds backed by excess cash in these deals, and Fitch Ratings expects to see more.

Ally Financial plans to issue a fourth offering of bonds backed by subprime auto loans, according to filing with the Securities and Exchange Commission.

The increased uncertainty over the Federal debt limit has “dampened” structured finance issuance, according to Standard & Poor’s.

Bonds backed by federally guaranteed student loans will continue to pay interest even if Congress does not raise the federal debt limit, according to Moody’s Investors Service.